Qiming Venture’s JP Gan: Meitu Could Be China’s Next Tencent

The closing months of 2016 have been kind to Qiming Venture Partners. The US$2.7 billion-under-management Chinese venture capital firm saw three of its portfolio companies list in public markets during the past month: in Shanghai, Taiwan and Hong Kong.

Meitu Inc., a phone retouch app and smartphone maker backed by Qiming, IDG Capital and others, was valued at HK$35.9 billion (US$4.6 billion) following its Hong Kong IPO. It was the biggest IPO by a technology company in Hong Kong since Chinese tech giant Tencent Holdings Ltd. went public in 2004.

The IPO marks the latest high point of a "harvest season" Qiming has entered to cash out of investments made over the past decade, says JP Gan, Qiming's managing partner. The firm just celebrated its tenth anniversary with a lavish party in Shanghai's Ritz Carlton featuring U.S. swimmer Michael Phel...

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